Graceland Auction Abruptly Canceled As FBI Takes Notice of Shadowy Firm Behind Stunt

Graceland auction cancelled as FBI takes notice
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Graceland auction cancelled as FBI takes notice
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Photo Credit: David Trinks

The shadowy company behind the Graceland foreclosure auction has backed off after a judge blocked the sale after fraud allegations. Now the FBI is interested in a potential criminal probe.

A representative for Naussany Investments & Private Lending told Reuters that it would withdraw all of its claims over Graceland. The popular Memphis tourist attraction draws around 600,000 visitors a year. Naussany claimed Elvis’ late daughther Lisa Marie Presley signed for a loan of $3.8 million dollars with Graceland listed as collateral on the loan. As the loan was never repaid, Naussany released a public notice of intended sale—sparking furor over the fate of the iconic property.

Elvis Presley’s granddaughter and heir of Graceland following her mother’s death sued Naussany, alleging that her mother never took out a loan against the property. She says the documents provided showcasing Lisa Marie Presley’s signature are forgeries, while a notary public listed on the documents swears she never met Lisa Marie Presley nor notarized the signature that appears on the documents.

Gregory Naussany says the company made its decision to back out of sale of Graceland as it would have to file legal action in multiple states. Nassauny says the alleged loan was secured in Florida but did not directly address Keough’s lawsuit or allegations of fraud.

Meanwhile, Elvis Presley Enterprises released a statement saying, “As the court has now made clear, there was no validity to the claims. There will be no foreclosure.”

The Federal Bureau of Investigation (FBI) has taken note of the claims of fraud, while the Tennessee Bureau of Investigation is also involved. FBI agents allegedly contacted Riley Keough and her representatives about conducting a possible criminal probe into the fraud. Keough’s mother Lisa Marie inherited the estate when Elvis died in 1977 at age 42. After Lisa Marie’s death in January 2023, Riley Keough is the sole heir of the property.